Duterte eyes transforming postal bank into an OFW bank
In an effort to make life comfortable for overseas Filipinos workers (OFWs), President Rodrigo Duterte announced on Tuesday that he has been mulling over creating a bank solely for the OFWs.
"I'm thinking really seriously now na magkaroon kayo ng sariling bangko ninyo," Duterte told members of the Filipino community in Tokyo shortly after his arrival there for a three-day official visit.
"Maybe iyong postal bank ng gobyerno. Wala namang sumusulat ngayon," he added, referring to the Philippine Postal Savings Bank (PostBank), a state-owned thrift bank targeted to areas where banking services are not yet available.
A bank catering to OFWs was one of Duterte's promises to migrant Filipino workers during the campaign period, the others being a separate government agency for OFWs and a one-stop shop that will cater to all their needs.